First Business Bank Reports First Quarter 2024 Net Income of $8.6 Million
Fees in lieu of interest, which vary from quarter to quarter based on client-driven activity, totaled $793,000, compared to $1.1 million in the prior quarter.
- Fees in lieu of interest, which vary from quarter to quarter based on client-driven activity, totaled $793,000, compared to $1.1 million in the prior quarter.
- The Bank reported a provision expense of $2.3 million, compared to $2.6 million in the fourth quarter of 2023.
- Other fee income decreased $248,000 to $1.5 million, compared to $1.7 million in the prior quarter.
- Non-interest expense increased $1.8 million, or 8.1%, to $23.3 million, while operating expense increased $1.8 million, or 8.2%, to $23.1 million.